- L.LB., Diponegoro University (2014)
- Licensed to practice law as an advocate by the Indonesian Bar Association (PERADI)
Aji is a senior associate at Assegaf Hamzah & Partners, specialising in capital market with a strong emphasis on both debt and equity transactions.
With a proven track record of advising a diverse portfolio of national and international clients, including prominent banking institutions, issuers, and underwriters, Aji has played a key role in numerous high-profile transactions across a broad range of industries, including healthcare, electricity, manufacturing, mining, and government sectors. He possesses demonstrated expertise in navigating complex legal issues within capital markets and M&A, conducting thorough legal research and due diligence, and expertly drafting transaction documentation.
Aji has also cultivated a deep understanding of the intricacies involved in government debt offerings, encompassing both conventional methods and Islamic finance instruments, particularly Sukuk Issuance.
Committed to expanding his legal acumen, Aji is increasingly involved in addressing emerging areas at the intersection of social impact, sustainability, and responsible investment, navigating the complex legal frameworks driving positive change across various industries.
Client recognition: "Has solid time and work management skills." – Asialaw Profiles 2022.
Experience Highlight
- Acted as legal counsel in the spin-off of PT Alamtri Resources Indonesia (ADRO) thermal coal business, operated by PT Adaro Andalan Indonesia (AADI), from its emerging green energy and minerals portfolio, through public offering. Our role was multifaceted and included the following key transactions:
- IPO of AADI: Successfully represented AADI in its Initial Public Offering, representing 10% of AADI’s enlarged share capital.
- Public Offering of ADRO: Successfully facilitated ADRO’s public offering of all its shares in AADI to ADRO’s existing shareholders using bespoke settlement mechanism similar to a rights issuance. To facilitate its shareholders participation in the public offering, ADRO also distributed dividend to its shareholders.
- Acted as legal counsel to PT Daya Intiguna Yasa Tbk., known as MR DIY, in its successful Initial Public Offering (IPO). This IPO is one of the largest IPO in Indonesia in 2024.
- Assisted the Government of Indonesia, through Ministry of Finance on the issuance of IDR5.5 trillion Green Retail Sukuk (ST011T4). The four-year green savings Sukuk facility is part of a dual-tranche issuance, with the IDR14.6 trillion non-green two-year tranche, receiving IDR20.1 trillion in total investment. The green tranche of the issuance will finance the government’s commitment to reduce the impact of climate change. The proceeds will be channeled toward financing environmentally friendly projects in the national budget. This deal was awarded Debt Market Deal of the Year at the ALB Indonesia Law Awards 2024.
- Advised the Government of Indonesia on its USD2.65 billion SEC Shelf Registered Bonds issuance and USD 325.21 million Switch and Cash Tender Offer, the first of its kind in Asia since 2018. The dealwas awarded Deal of the Year: Debt and Equity Linked (GoI Switch Tender Offer) at the IFLR Asia Pacific Awards 2023; Debt Market Deal of the Year - The Government of Indonesia’s Switch and Cash Tender Offer Exercise and Issuance of SEC Shelf Registered Bonds at the ALB Indonesia Law Awards 2023.
- Acted as the Indonesian legal counsel to CIMB Investment Bank Berhad; Deutsche Bank AG, London Branch; Dubai Islamic Bank PJSC; The Hongkong and Shanghai Banking Corporation Limited; and Standard Chartered Bank as the Joint Lead Manager on the issuance of a USD 3.25 billion Sukuk offering comprising of USD 1.75 billion 5-year and USD 1.5 billion 10-year (Green) Reg S/144A Trust Certificate due 2027 and 2032 respectively (the “Wakala Sukuk”). The Wakala Sukuk will be listed on the Singapore Stock Exchange and NASDAQ Dubai (dual listing). This is the largest ever Green Sukuk tranche globally. This deal was awarded Debt Market Deal of the Year (Premium) at the ALB South-East Asia Law Awards 2023; Debt Market Deal of the Year (Premium) at the ALB Indonesia Law Awards 2022.
- Acted as the Indonesian legal counsel to PT Bukalapak.com Tbk., on its IPO. The shares are also offered to international investors under Rule 144A/Reg. S of the US Securities Act 1933. This IPO is historical, not only because Bukalapak is the first multi-commerce company to list in the IDX but is also the first homegrown start-up unicorn to go public in Indonesia and Southeast Asia. This deal was awarded Impact Deal of the Year: Bukalapak IPO by the Asialaw Awards 2022; IPO Deal of the Year - Bukalapak’s IPO by ALB Indonesia Law Awards 2022; Equity Capital Markets Deal of the Year - PT Bukalapak.com Tbk’s Indonesian IPO by In-House Community Deal of the Year 2021.
- Advising Waskita on the proposed restructuring of its IDR 29.3 trillion financial debts and obligations, including revisions to its Master Restructuring Agreement and stakeholder negotiations.
- Advised on the establishment of PT Mineral Industri Indonesia (Persero), a new state-owned holding company to hold the shares of mining companies formerly owned by the Government of the Republic of Indonesia. This exercise also involves a transfer of all assets and liabilities of the holding function from PT INALUM (Persero), the former mining industry holding company.
- Represent Bain Capital in its equity and debt investment in PT Sejahteraraya Anugerahjaya Tbk, the operator of Mayapada hospitals chain.
- Assisted PT Sehat Abadi Cemerlang and PT Saratoga Investama Sedaya Tbk. in the sale of shares of PT Farnon Awal Bros Sedaya Tbk. (the operator of Primaya Hospital) to GIC, the Singaporean government investment arm.
